• Corporate  |  MARCH 6, 2015 9:47 PM

    Kulim unit to buy 30% stake in Asia Logistics Council

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    Kulim (Malaysia) Bhd has announced that its 54.21%-owned subsidiary Asia Economic Development Fund Ltd (AEDFL) had entered into a share sale agreement (SSA) for the proposed acquisition of a 30% equity interest in Asia Logistics Council Sdn Bhd (ALC) for RM23.17 million.

  • Corporate  |  MARCH 6, 2015 9:35 PM

    ‘GST to go ahead regardless of levels of understanding’

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    The government would implement the goods and services tax (GST) regardless of the level of the people's understanding of it, said Deputy Finance Minister Ahmad Maslan.

  • World Biz  |  MARCH 6, 2015 9:24 PM

    GSK said to fire 110 staff in China for misconduct

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    GlaxoSmithKline Plc (GSK), the drugmaker that was the target of a Chinese government probe last year, is firing about 110 employees in the Asian nation for misconduct more than 18 months ago, people with knowledge of the matter said.

  • Corporate & Featured and Exclusive  |  MARCH 6, 2015 8:33 PM

    DPM wants PAC to start own probe on 1MDB

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    Deputy Prime Minister Muhyiddin Yassin today urged the Public Accounts Committee (PAC) to start its own investigation on 1Malaysia Development Bhd (1MDB), without waiting for the auditor-general’s report.

  • Corporate  |  MARCH 6, 2015 8:20 PM

    Boustead plans to acquire 50% stake in Irat Properties

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    Boustead Holdings Bhd (BHB) has proposed to acquire a 50% equity in Irat Properties Sdn Bhd for RM128 million.

  • World Biz  |  MARCH 6, 2015 8:13 PM

    Lloyds’ CEO paid RM64 mil as UK best-paid bank boss

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    Lloyds Banking Group Plc’s Antonio Horta-Osorio supplanted HSBC Holdings Plc’s Stuart Gulliver as the best-paid British bank boss in 2014.

  • World Biz  |  MARCH 6, 2015 7:43 PM

    Vodacom to consider sharing deal with Millicom, Bharti

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    Vodacom Group Ltd, South Africa’s biggest wireless operator by subscribers, is exploring the possibility of sharing infrastructure on the continent with competitors Millicom International Cellular SA and Bharti Airtel Ltd, according to a person familiar with the matter.

  • Corporate & Featured and Exclusive  |  MARCH 6, 2015 7:35 PM

    Sunway Construction submits listing application to Bursa

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    Sunway Construction Group Bhd (SCG), a wholly owned subsidiary of Sunway Bhd, today submitted an application to be listed on the Main Market of Bursa Securities.

  • Corporate  |  MARCH 6, 2015 7:32 PM

    Mudajaya unit acquires 46% stake in PT Harmoni Energy

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    Mudajaya Group Bhd's wholly owned unit, Mudajaya Power International Sdn Bhd, has acquired a 46% stake in PT Harmoni Energy Indonesia (PT HEI).

  • World Biz  |  MARCH 6, 2015 7:28 PM

    Thai Aiways may sell assets to cover losses this year

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    Thai Airways International PCL would sell some of its 15.5 billion baht (RM1.7 billion) of non-core assets to cover any losses this year due to one-off hits for cutting its fleet and workforce, the company's president said on Friday.

  • Corporate & Featured and Exclusive  |  MARCH 6, 2015 7:23 PM

    Tenaga confident of victory despite Integrax’s board snub

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    Blue chip utility player Tenaga Nasional Bhd is confident of a successful bid for port operator Integrax, signalling today that its offer price will remain firm at RM3.25 per share despite Integrax’s board saying it will recommend shareholders reject the price.

  • Corporate  |  MARCH 6, 2015 7:04 PM

    EA Technique to build tugboats for Petronas

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    Ship owner and operator of marine vessels for the oil and gas industry EA Technique Bhd is building two 60-tonne tugboats for Petroliam Nasional Bhd's (Petronas) floating liquefied natural gas (FLNG) facility in Labuan.

  • World Biz  |  MARCH 6, 2015 6:45 PM

    Insurers step up by having safety policies for drone pilots

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    Thousands of drones flown without government approval by real estate companies, movie studios and other businesses are getting coverage by insurers writing their own safety rules to fill a void left by regulators.

  • Corporate & Featured and Exclusive  |  MARCH 6, 2015 6:37 PM

    3-year contract extension approved for Tenaga CEO

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    Blue chip utility player Tenaga Nasional Berhad saw its president and chief executive officer Azman Mohd receiving a three-year contract extension which will keep him at the company until 2018. In a statement, Tenaga said Azman’s tenure extension was approved …

  • World Biz  |  MARCH 6, 2015 6:27 PM

    Xiaomi plans to back 100 startups

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    Xiaomi Corp, the world’s most valuable startup, is planning investments of its own in 100 emerging technology companies.

  • Corporate  |  MARCH 6, 2015 6:24 PM

    Palm oil refinery JV for GenP and Musim Mas

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    Genting Plantations Bhd (GenP) and Musim Mas Group (Musim Mas) have entered a collaboration to establish a palm oil refinery at the Palm Oil Industrial Cluster at Lahad Datu, Sabah, with the entire investment to cost roughly RM300 million. Musim …

  • Corporate  |  MARCH 6, 2015 5:53 PM

    MyCC fines 25 ice manufacturers for price fixing

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    The Malaysia Competition Commission (MyCC) today said all the 25 ice manufacturers have paid up financial penalty imposed ranging from RM1,200 to RM106,000.

  • Markets  |  MARCH 6, 2015 5:53 PM

    KL shares close slightly higher

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    Share prices on Bursa Malaysia closed slightly higher today, supported by bargain hunting in selected finance stocks after the midday break, dealers said.

  • Economy  |  MARCH 6, 2015 5:44 PM

    China to increase public spending to avoid ‘nose-dive’

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    China plans to increase its public spending in order to avoid a hard landing of its economy, China's Finance Minister Lou Jiwei said Friday.

  • Markets  |  MARCH 6, 2015 5:40 PM

    Ringgit eases against US$

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    The ringgit eased against the US dollar in late trading on persistent strength of the greenback which hovered around an 11-year high against major currencies, a trader said.